SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
GOLDENTREE ASSET MANAGEMENT LP

(Last) (First) (Middle)
300 PARK AVENUE
21ST FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
10/27/2020
3. Issuer Name and Ticker or Trading Symbol
California Resources Corp [ CRC ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.01 per share ("Common Stock") 19,407,261 I See footnotes(1)(2)(3)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Warrants 10/27/2020 10/27/2024 Common Stock 475,556 36.01 I See footnotes(1)(2)(4)
1. Name and Address of Reporting Person*
GOLDENTREE ASSET MANAGEMENT LP

(Last) (First) (Middle)
300 PARK AVENUE
21ST FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
GoldenTree Asset Management LLC

(Last) (First) (Middle)
300 PARK AVENUE
21ST FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Tananbaum Steven A.

(Last) (First) (Middle)
300 PARK AVENUE
21ST FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
Explanation of Responses:
1. This Form 3 is filed on behalf of GoldenTree Asset Management LP (the "Advisor"), GoldenTree Asset Management LLC (the "General Partner") and Steven A. Tananbaum (collectively, the "Reporting Persons"). The Advisor is the investment manager or advisor to certain funds and separate accounts managed by the Advisor (the "Funds") and may be deemed to have a pecuniary interest in the securities directly held by the Funds. The General Partner is the general partner of the Advisor and may be deemed to have a pecuniary interest in the Common Stock reported herein in which the Advisor has a pecuniary interest. Steven A. Tananbaum is the managing member of the General Partner and may be deemed to have a pecuniary interest in the Common Stock reported herein in which the Advisor and the General Partner have a pecuniary interest.
2. The Advisor, the General Partner, and Mr. Tananbaum disclaim beneficial ownership of the Common Stock held by the Funds.
3. Common Stock held directly by certain funds and separate accounts managed by the Advisor.
4. Warrants held directly by certain funds and separate accounts managed by the Advisor.
GoldenTree Asset Management LP, By: GoldenTree Asset Management LLC, its General Partner, /s/ Steven A. Tananbaum 11/06/2020
GoldenTree Asset Management LLC, /s/ Steven A. Tananbaum 11/06/2020
/s/ Steven A. Tananbaum 11/06/2020
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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